Jio reported GR of Rs 3.2 bn for 4QFY17. Now, if we were to assume that the gross revenues reported by Jio essentially reflectinterconnect revenues from other operators (for off-net incoming minutes into Jio's network), the Rs 3.2 bn gross revenues reported by Jio suggest that the company saw roughly 23 bn off-net incoming minutes in 4QFY17.

On the same lines, if one were to assume that the difference between GR and AGR (of Rs 15 bn) were to reflect gross interconnect costs (payout to other operators for off-net outgoing minutes originating from Jio’s network) for Jio, this would imply that Jio carried nearly 107bn off-net outgoing minutes in 4QFY17.

Computation above on off-net incoming and outgoing volumes looks just right in light of Jio's own reported metric of 2 bn total voice minutes per day.